SOURCE: Vina Concha y Toro S.A.

Vina Concha y Toro S.A.

November 18, 2015 12:57 ET

Vina Concha y Toro Reports Consolidated Third Quarter 2015 Results

SANTIAGO, CHILE--(Marketwired - Nov 18, 2015) - Viña Concha y Toro S.A. ("The Company" or "Concha y Toro") (NYSE: VCO) (IPSA: Conchatoro) announced last Friday its consolidated financial results for the third quarter ended September 30, 2015.

In the quarter, sales totaled Ch$170,206 million, representing an increase of 14.7%, explained by higher sales in export markets, in the Chilean domestic market in Chile and sales from Argentina and the United States.

Eduardo Guilisasti, Concha y Toro's CEO, said: "The third quarter results are positive and show an important recovery in sales and profits, boosted by the growth in the premium categories, highlighting the sustained growth of Casillero del Diablo and the performance of the Argentinean and U.S. subsidiaries."

Sales in Export Markets (from Chile) increased 16.0% and 9.7% in terms of value and volume, totaling Ch$113,729 million and 6.0 million of nine liter cases, respectively. Within a challenging economic environment, we highlight the growth in sales volume achieved in: Asia (+50.0%); Canada (+11.0%); Central America & Caribbean (+7.8%); U.S. (+7.7%); and Europe (+7.6%).

In Chile, sales in the domestic market increased 6.4% and 2.9% in value and volume, totaling Ch$18,844 million and 2.1 million nine-liter cases.

Sales of the Argentinean subsidiary, Trivento, rose 28.3% in value, amounting Ch$7,334 million during the third quarter. Stands out the increase in volume of 11.7% in the export market.

Sales from Fetzer Vineyards, the U.S. subsidiary, increased 21.3% in value, totaling Ch$16,898 million during the third quarter, explained by higher consolidated volumes (+5.9%) and average sales price in the domestic market (+1.3%).

During the quarter, the Operating Income registered a growth of 28.7%, totaling Ch$21,216 million. In same line, the Operating Income plus Depreciation and Amortization reached Ch$27,686 million, representing a figure over sales of 16.3%.

Finally, the Net Income attributable to the Controllers of the Company increased 37.0% to Ch$15,826 million in the third quarter of 2015.

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